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CGT or IHT

CGT or IHT

Sometimes there is a choice of which tax to pay and where a person owns an investment property, they may be able to exercise a degree of choice whether they take a capital gains tax hit or their beneficiaries pay inheritance tax. However, there is something of a gamble here – while capital gains tax …

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Plan Capital Expenditure to Benefit from Time-Limited Reliefs

Plan Capital Expenditure to Benefit from Time-Limited Reliefs

Unincorporated businesses and companies planning capital expenditure projects need to be aware of some time-limited reliefs. Timing capital expenditure to benefit from these reliefs can be financially beneficial.   Annual Investment Allowance The annual investment allowance (AIA) is available to both unincorporated business and to companies. It provides immediate 100% relief against profits for qualifying …

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Conditions And Problems Surrounding the Claim for Incorporation Relief

Conditions And Problems Surrounding the Claim for Incorporation Relief

Businesses become companies for a variety of reasons. Not so long ago it was mainly as a tax planning tool but increasingly the differences in tax rates between the self-employed and a company mean that unless the profit is in excess of approximately £50,000 the increased administration involved with a company may not make it …

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